A clifftop Sorrento block with a 1950s shack has sold for just below its $10 million asking price.
In a sale described as “bittersweet”, 10 Netley Ave had buyers clambering to own the property listed for the first time since the 1940s.
The attraction was the prized location of the 1408sq m block with its stunning coastal views just metres from the water.
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All the buyers had plans to demolish the three-bedroom weatherboard weekender to make way for a new luxury home.
“There were six parties interested and four put in bids in a silent auction,” said Kay & Burton Portsea director Liz Jensen.
Expressions of interest closed on February 12 and the property sold on the evening of February 14.
“The vendors were happy with the result, but are a little sad and emotional because they have owned it for such a long time,” Ms Jensen said.
“For the buyers, they told me 15 years ago that they would like to buy a clifftop property like this and now their dream has come true.”
The vendors and buyers are both Melbourne based, with the latter already owning another Sorrento holiday home.
Ms Jensen said the sale price was indicative of the demand for an aspirational lifestyle and the value people placed on beachfront Sorrento properties.
“Such listings are rare and people buy for the future to keep in the family for generations,” she said.
The weatherboard house had been a holiday home for the Langford family for more than seven decades.
The family is descended from Clements Langford, a noted builder and philanthropist, who was involved in the construction of the spires of St Paul’s Cathedral in the city.
The house with an open-plan living area has a fireplace and a veranda which captures panoramic views.
Apart from postcard views, the property has easy access to the shops, cafes and golf course, and also comes with clifftop access to the beach.
In 2015, another house on a larger 5412sq m block at 3450 Point Nepean Rd fetched $15.2 million in the suburb’s biggest residential sale that records show.
But secretive off-market deals done behind closed doors could be worth much more.
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